The 7 Most Popular Project Management Methodologies for Product Management at a Glance

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Shubhi Kotiya
CxO / Board, Germany

The 7 Most Popular Project Management Methodologies for Product Management at a Glance

Project Management is one of the most important skills in today's working environment. A successful project manager uses many different approaches to manage his/her project efficiently and productively.

101 of Popular Project Management Methodologies

Here is a snapshot of the most popular methodologies used today by product managers:
  • WATERFALL: This is a traditional methodology in which tasks and phases are completed in a linear, sequential manner. Each stage of the project must be completed before the next one begins. The project manager needs to define tasks, budget at the start of the project, clearly assign the responsibilities to team members and factor in risk management in the project.
  • AGILE: This approach involves short phases of collaborative, iterative work with frequent testing and regularly-implemented improvements. In Agile projects teams work more collaboratively and share responsibilities. The Agile framework provides an easier opportunity for a course correction if the project is not moving as per the plan.
  • SCRUM: This is one Agile framework that focuses on developing, delivering, and sustaining complex projects and products through collaboration, accountability, and an iterative process. The work is completed in small fractions by a cross functional team which is led by a "Scrum Master".
  • KANBAN: This is both an Agile approach and a tool that provides visual feedback about the status of the work in progress through the use of Kanban boards or charts. Teams use colorful sticky notes on a wall to mark the progress of tasks in the project as To do, in Progress or Done.
  • LEAN: This uses the 5S philosophy of Sort, Set in order, Shine, Standardize, and Sustain to eliminate 8 areas of waste in order to boost improvement in quality, save money and streamlines processes. Lean implements a Kanban scheduling system to manage production.
  • SIX SIGMA: The Six Sigma method follows a process-improvement approach called DMAIC, which stands for define, measure, analyze, improve, and control.
  • LEAN SIX SIGMA: This is the combination of Lean and Six Sigma approaches. Lean Six Sigma is also ideal for solving complex or high-risk problems. The 5S quality tool, the DMAIC process, and the use of Kanban boards are all components of this approach.
Depending on the project to be managed, a project manager can use either one or a combination of these methodologies in order to achieve the desired outcomes.

  John Henry
Project Manager, United States
 

Project Methodologies versus Techniques or Business Improvement Processes

I only see two pure methodologies for project management in the list. Waterfall- Traditional Project management front l...

  Molokanova
Professor, Ukraine
 

Project Methodologies or Business Improvement Processes

According to the law of development in any system it is possible to allocate two components (subsystems), one of them ca...

  Paramathmuni srinivas Kumar
India
 

Hybrid Project Management Model (Agile + Waterfall)

Agile has its advantages and waterfall model has its own advantages.Why can't we take the best of the both of the models...

  John Henry
Project Manager, United States
 

Hybrid Project Management is Already a Thing

@Srinivas: I would suggest that project management is a continuum of techniques used to make the best attempt at managin...

  Paul D Giammalvo
Professor and Consultant, Indonesia
 

Integrated Asset, Portfolio, Program and Project Management Delivery System (Product Delivery Systems)

@Shubhi, When you look at the options to "create, acquire, update, expand, repair, maintain and eventually dispose of" ...

Sr NoItemSystem Variables(Agile)System Co...
  Paramathmuni srinivas Kumar
India
 

Some Aspects in Which the Waterfall and Agile Differ

@John Henry:

 

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